Honeywell International : Buys Assets From Ballard's Unmanned Aerial Vehicle Business for Undisclosed Amount

By Dave Sebastian

Honeywell International Inc. said it has acquired assets from Ballard Power Systems Inc.'s unmanned aerial vehicle business in Southborough, Mass.

Ballard said it is divesting the non-core assets to focus on heavy- and medium-duty motive markets of bus, truck, train and marine.

The Ballard unit designs and makes systems that power unmanned aerial systems, including those used for energy inspection, cargo delivery and other commercial and defense settings. Honeywell said it would have rights to intellectual property, inventory and equipment of the assets.

Ballard's fuel-cell experts will also join Honeywell Aerospace as part of the acquisition, the companies said.

Write to Dave Sebastian at [e-mail]

(END) Dow Jones Newswires

10-15-20 0932ET